0001235468-21-000191.txt : 20211220 0001235468-21-000191.hdr.sgml : 20211220 20211220194622 ACCESSION NUMBER: 0001235468-21-000191 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20211216 FILED AS OF DATE: 20211220 DATE AS OF CHANGE: 20211220 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Daunt John CENTRAL INDEX KEY: 0001774667 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 211506488 MAIL ADDRESS: STREET 1: C/O 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LIQUIDITY SERVICES INC CENTRAL INDEX KEY: 0001235468 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 522209244 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 BUSINESS ADDRESS: STREET 1: 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: 2024676868 MAIL ADDRESS: STREET 1: 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 4 1 wf-form4_164004756617501.xml FORM 4 X0306 4 2021-12-16 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001774667 Daunt John C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 Chief Commercial Officer Common Stock 2021-12-16 4 M 0 8115 6.69 A 71982 I By the Daunt Family Trust Common Stock 2021-12-16 4 S 0 8115 20.75 D 63867 I By the Daunt Family Trust Common Stock 2021-12-20 4 M 0 16350 0 A 80217 I By the Daunt Family Trust Common Stock 2021-12-16 4 S 0 16350 20.95 D 63867 I By the Daunt Family Trust Employee Stock Grant 2027-10-01 Common Stock 1656.0 1656 D Employee Stock Grant 2023-01-01 Common Stock 1675.0 1675 D Employee Stock Option 6.11 2028-12-04 Common Stock 14033.0 14833 D Employee Stock Option 6.11 2028-12-04 Common Stock 10400.0 10400 D Employee Stock Grant 2024-01-01 Common Stock 12225.0 12225 D Employee Stock Option 6.58 2029-04-29 Common Stock 10458.0 10458 D Employee Stock Option 6.58 2029-04-29 Common Stock 11667.0 11667 D Employee Stock Grant 2023-05-01 Common Stock 7500.0 7500 D Employee Stock Option 6.69 2029-12-03 Common Stock 38950.0 38950 D Employee Stock Option 6.69 2021-12-16 4 M 0 8115 0 D 2029-12-03 Common Stock 33681.0 25566 D Employee Stock Grant 2021-12-20 4 M 0 30000 0 D 2025-01-01 Common Stock 30000.0 0 D Employee Stock Option 9.46 2030-12-01 Common Stock 61200.0 61200 D Employee Stock Option 9.46 2030-12-01 Common Stock 61200.0 61200 D Employee Stock Grant 2025-01-01 Common Stock 11050.0 11050 D Employee Stock Grant 2025-01-01 Common Stock 11050.0 11050 D Employee Stock Option 22.2 2031-12-07 Common Stock 7740.0 7740 D Employee Stock Option 22.2 2031-12-07 Common Stock 7740.0 7740 D Employee Stock Grant 2026-01-01 Common Stock 8720.0 8720 D Employee Stock Grant 2026-01-01 Common Stock 8720.0 8720 D Represents the exercise of stock options. Represents the net issuance of 16,530 shares from the vesting of 30,000 restricted stock units from which the federal and state tax withholding due at the vesting of such restricted stock units was satisfied by the Issuer withholding 13.470 shares. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in the Issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock. Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023. These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in the Issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock. 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months. Twenty-five percent of this restricted stock unit grant vested on January 1, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024. 12/48th of this option grant vested on May 1, 2020 and thereafter, 1/48th will vest each month for thirty-six months. Twenty-five percent of this restricted stock unit grant vested on May 1, 2020 and thereafter, an additional 1/4th vests on each of May 1, 2021, May 1, 2022 and May 1, 2023. 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months. Represents the vesting of restricted stock units. These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the Issuer. 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months. This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. Twenty-five percent of this restricted stock unit grant will vest on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025. 12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months. Twenty-five percent of this restricted stock unit grant will vest on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026. /s/ Mark A. Shaffer, by power of attorney 2021-12-20